Zuckerberg: Meta's Snapchat Bid Would've Boosted Growth
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Meta CEO Mark Zuckerberg testified during an antitrust trial that Snapchat's growth would have been faster had Meta acquired it in 2013 for $6 billion. Zuckerberg's testimony supports the FTC's argument that Meta strategically acquires rivals to maintain its social media dominance. The FTC seeks to force Meta to divest Instagram and WhatsApp, alleging these acquisitions illegally created a monopoly.
Meta CEO Mark Zuckerberg testified during an antitrust trial that Snapchat's growth would have been faster had Meta acquired it in 2013 for $6 billion. Zuckerberg's testimony supports the FTC's argument that Meta strategically acquires rivals to maintain its social media dominance. The FTC seeks to force Meta to divest Instagram and WhatsApp, alleging these acquisitions illegally created a monopoly.
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